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Given:Sales...........................N15 000Opening stock...................N5 ...


Question

Given:

Sales...........................N15 000

Opening stock...................N5 600

Purchases.......................N9 700

Closing stock...................N4 400

Gross profit....................N4 500

Net profit......................N2 200

From the data above, calculate the rate of turnover?

Options

A) 3:50 times

B) 3:00 times

C) 2:00 times

D) 2:18 times

The correct answer is D.


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